A new three-phase multilevel DC-AC converter with three-phase coupled inductors is presented in this work. The related converter is employed only as an inverter here. Initially the power stage diagram is shown and discussed. Their main characteristics are described and the more relevant waveforms, generated by simulation, are shown. After that, the converter operation is presented and all topological states are shown. The vectorial interpretation of the line load voltage is shown to all available vectors of load voltage in the new structure. Next, the operation of the converter with sinusoidal PWM modulation is discussed and some relevant figures are presented. In the sequence, the presence of the three-phase coupled inductor to provide significant reduction in harmonic distortion is discussed. Finally, experimental results obtained from the implemented prototype are presented and briefly discussed.